Research analysts covering Angel Oak Financial Strategies Income Term Trust.
Recent press releases and 8-K filings for FINS.
Angel Oak Financial Strategies Income Term Trust Reports Brookfield Acquisition and Leadership Changes
FINS
M&A
Board Change
Management Change
- Brookfield Asset Management Ltd. acquired a majority of Angel Oak Companies, LP, the parent of Angel Oak Capital Advisors, LLC (FINS's investment adviser), on October 1, 2025.
- Following the acquisition, a new investment advisory agreement with substantially similar terms and the same advisory fee was approved by the Board on April 23, 2025, and by shareholders on September 26, 2025. The transaction is not expected to materially change the Fund's day-to-day management.
- Clayton Triick resigned as a Trustee, effective September 30, 2025, reducing the Board to five Trustees.
- Ward Bortz replaced Adam Langley as President of the Fund, effective October 1, 2025.
Oct 2, 2025, 9:07 PM
Angel Oak Financial Strategies Income Term Trust Shareholders Approve New Investment Advisory Agreement
FINS
Proxy Vote Outcomes
New Projects/Investments
- Shareholders of Angel Oak Financial Strategies Income Term Trust (FINS) approved a new investment advisory agreement with Angel Oak Capital Advisors, LLC at a special meeting held on September 26, 2025.
- The Board of Trustees expressed enthusiasm for the value creation opportunity presented by the combination of Angel Oak and Brookfield Asset Management.
- The Fund's investment strategy focuses predominantly on U.S. financial sector debt, with at least 50% of its portfolio typically invested in investment-grade debt.
Sep 29, 2025, 12:00 PM
Angel Oak Financial Strategies Income Term Trust Seeks Shareholder Approval for New Investment Advisory Agreement
FINS
M&A
Proxy Vote Outcomes
Board Change
- Angel Oak Financial Strategies Income Term Trust (FINS) has filed an investor presentation for a Special Meeting on September 26, 2025, to approve a new investment advisory agreement.
- This new agreement is a result of Brookfield Asset Management Ltd. acquiring a majority interest in Angel Oak Companies, the parent of the Fund's adviser, with the transaction expected to close by September 30, 2025.
- The new agreement is substantially identical to the current one, ensuring continuity of the Fund's operations, investment strategy, and management team with no increase in fees.
- The Board unanimously recommends voting "FOR" the new agreement, as it is expected to enhance the Adviser's resources, market access, and provide potential synergies through Brookfield's scale.
- As of August 31, 2025, the Fund has outperformed its benchmark (Bloomberg U.S. Aggregate Bond Index) over 1-, 3-, and 5-year periods, year to date, and since inception.
Sep 3, 2025, 8:05 PM
Angel Oak Financial Strategies Income Term Trust Faces Shareholder Opposition to Advisory Agreement
FINS
Proxy Vote Outcomes
Executive Compensation
Board Change
- Trevor Montano is urging Angel Oak Financial Strategies Income Term Trust (FINS) shareholders to vote AGAINST a new investment advisory agreement with Angel Oak Capital Advisors, LLC, citing the fund's poor performance.
- FINS's share price has declined over 35% since its 2019 inception, and it has underperformed peer closed-end funds in total shareholder returns over 3- and 5-year periods.
- Angel Oak has received more in investment advisory fees than FINS generated in cumulative net income, specifically $20.0 million in fees versus $9.0 million in net income for FY 2023-2025.
- Concerns are raised regarding the FINS Board's fiduciary responsibility, lack of a competitive advisor selection process, and the continued presence of unelected Trustees.
Aug 26, 2025, 8:00 PM
Angel Oak Financial Strategies Income Term Trust Files Proxy for New Advisory Agreement
FINS
M&A
Proxy Vote Outcomes
Dividends
- Angel Oak Financial Strategies Income Term Trust (FINS) has filed its definitive proxy statement for a special shareholder meeting on September 26, 2025, to approve a new investment advisory agreement.
- This new agreement is required due to Brookfield Asset Management Ltd.'s proposed majority investment in Angel Oak Capital Advisors, LLC, which is expected to close on or before September 30, 2025.
- The proposed New Agreement is substantially identical to the existing one, with no material changes to day-to-day management, operations, or fees, and the same portfolio managers will remain.
- The Fund's Board of Trustees unanimously recommends voting "FOR" the New Agreement, citing benefits such as continuity, continued value creation (including a distribution yield over 10% and an increased monthly distribution to $0.115 per share for August 2025), and leveraging Brookfield's expertise.
Aug 25, 2025, 4:00 PM
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